Frank Carbon, president of the Metro Bacolod Chamber of Commerce and Industry, yesterday advised young entrepreneurs to “start small and start at home.”
If college graduates have the opportunity to go into business, they can start at home, he said.
“Go into business by borrowing capital from well-off relatives and good friends. Do not borrow from the bank and avoid loans with high interests. Also avoid paying for expensive fixed costs, such as rent, power, and water, by doing your enterprise at home,” Carbon said.
He encouraged young Bacoleños to emulate the success of the small and medium entrepreneurs (SME's) that participated in the Negros Business Week Expo held at the Fountain Area of Robinsons Place Bacolod from June 29 to July 5.
The MBCCI president also cited Department of Education data that show 51 percent of high school graduates cannot proceed to college because of high costs.
He noted that 90 percent of those who engaged in small-scale businesses have stopped going to college, did not reach college or only finished their education at the elementary and secondary level, Carbon said.
He said MBCCI encourages big businesses to help the small ones.*PSF
